09:16 AM EST, 01/07/2025 (MT Newswires) -- Energy stocks were advancing premarket Tuesday with the Energy Select Sector SPDR Fund ( XLE ) recently up 0.6%.

The United States Oil Fund ( USO ) was up 0.7% and the United States Natural Gas Fund ( UNG ) was 4% lower.

Front-month US West Texas Intermediate crude oil was 0.5% higher at $73.91 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.7% to $76.80 per barrel. Natural gas futures were down 1.2% at $3.076 per 1 million British Thermal Units.

Exxon Mobil ( XOM ) filed a lawsuit against California Attorney General Robert Bonta and several environmental groups on Monday, claiming that they defamed and disparaged the company's plastics recycling initiatives, multiple media outlets reported, citing the complaint. Exxon Mobil ( XOM ) shares were 0.7% higher pre-bell.

Phillips 66 (PSX) shares were up over 1% after the company said it has agreed to buy EPIC Y-Grade GP and EPIC Y-Grade LP, which own long-haul natural gas liquids pipelines, fractionation facilities and distribution systems, for $2.2 billion in cash.

Icahn Enterprises ( IEP ) shares were up 0.8% after the company said Tuesday it has extended the deadline for its cash tender offer for up to 17.8 million shares of CVR Energy ( CVI ) common stock at $18.25 per share.